Bitcoin Chart Review and Update #33 ?

khalil319 (54)in DIGITAL MINE • 5 years ago

Bitcoin chart review

BTC Chart Published By Philosof at #Tradingview
https://www.tradingview.com/u/Philosof

Nothing have changed since yesterday. Bitcoin draw bull flag.

Bullish move above 7800 should take it to 8050 and 8300.

Might get to 8550 as well. Possible pullback at first to gain liquidations/liquidity, but might go up without it. Nearest strong support is at 7280 - 7170. Greater liquidity will be at 6900.

BITMEX: XBTUSD 240

https://www.tradingview.com/x/6SfNVOxO/

BITMEX: XBTUSD 60

https://www.tradingview.com/x/kWhnxjyz/

BTC Chart Published By Trader-Elisa

So htf we are finally at daily supply which I wanted to get to before judging a rejection.

We have a couple of wicks off the highs now - but for the second it is the weekend (low liquidity) and there was a LOT of fuckery yesterday! However the lowest dip has held my long term level at 7380 and the original bull wave level at 7430. The latter holding leaves us positioned well for a move to the next larger range at 8390.

Price has travelled nicely back and forward across the range from 75-76 providing a few good trades.

While we are still making HLs, this leaves us open to a cascade of liquidations which we saw on the 20th, but also doesn't mean price can't go higher first.

I do see weakness now though, ltf demand levels aren't holding and waves are starting to fully retrace (although again it is the weekend so harder to judge). We have also made a ltf supply level at around 7560, which could be a decent short entry.

On the downside there are again quite a few bounce levels, my preferred would be 7130 but there are few possibilities in between which I would judge as I see them.

For now at least, I again play the ranges while trying to establish if this is an ascending triangle which will break up.

Resistance: 7800 - 8050 - 8300 - 8550
Support: 7475 - 7280 - 7170 - 6900 - 6620

Fear & Greed index: 21 (<= 24 <= 20 <= 19 <= 19)
BTC Dominance: 63.6% (<= 63.7 <= 63.9 <= 63.5)
24h Volume: $117 billion (<= 152 <= 152 <= 130 <= 115)

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